[Code of Federal Regulations]
[Title 26, Volume 11]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR1.1348-1]

[Page 669-670]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 1_INCOME TAXES--Table of Contents
 
Sec. 1.1348-1  Fifty-percent maximum tax on earned income.

    Section 1348 provides generally that for taxable years beginning 
after December 31, 1971, the maximum tax rate applicable to the earned 
taxable income of an individual, estate, or trust is not to exceed 50 
percent. In the case of an estate or trust, earned income includes only 
amounts which constitute income in respect of a decedent within Sec. 
1.1348-3(a)(4). For taxable years beginning after December 31, 1970, and 
before January 1, 1972, the maximum rate is 60 percent. Section 1348 
does not apply if the taxpayer chooses the benefits of income averaging 
under sections 1301 through 1305. Section 1348 does not apply to a 
married individual who does not file a joint return with his spouse for 
the taxable year. For purposes of section 1348, an individual's marital

[[Page 670]]

status shall be determined under section 153 and the regulations 
thereunder.

[T.D. 7446, 41 FR 55337, Dec. 20, 1976]